The U.S. Securities and Exchange Commission (SEC) has challenged a proposed US$1 billion purchase of the assets of bankrupt cryptocurrency lender Voyager Digital by a U.S. affiliate of Binance.
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quick facts
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The SEC raised a “limited objection” in court filings Wednesday, saying the purchase agreement lacked details on Binance’s ability to close the deal.
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The SEC also requested more information about the nature of Binance’s business operations after the acquisition.
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Securities and banking regulators in Texas, New York, New Jersey and Vermont have also opposed the Binance deal announced in December.
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Alameda Research, FTX’s bankrupt trading arm, has also opposed the acquisition, saying it “unfairly discriminates” against Alameda’s claims because it is a shareholder of Voyager.
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Binance and FTX put up two major bids for Voyager’s assets in September before FTX and Alameda Research collapsed.
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Voyager Digital accepted Binance’s US$1 billion bid in December, but the deal is subject to court approval to finalize.
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